Walmart to become Americas biggest BANK

{IIRC Walmart tried to do this several years ago but was blocked by the banks.}

Walmart teases plans to become America’s biggest BANK:

Retail giant will trial checking accounts for staff and some online customers, and could end up rolling it out to its 150m weekly customers

The superstore will be offering checking accounts to several thousand of its employees in the coming weeks as a part of a beta test

Walmart hopes to roll out banking options to its 1.6million employees within a year

Once the services have been made available to employees, Walmart would extend them to its customer base of at least 150million weekly shoppers

Loans and investments could also be a part of the financial services offered…

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Isn’t this all how it went bad for GE?

I was wondering last month what would bring Walmart down? It might take 15 years.


if i am not mistaken after G.E. got rid of their finance division is the beginning of the end…

G.M. got rid of their finance division and it was the only thing that made any real money…

well the went bankrupt after that too…

Didn’t Sears do this before? If I recall correctly, things didn’t work out so well for the company.

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What was Sears?

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Didn’t Sears do this before?

Sears Bank went out of business in 2004. However, Discover has been quite successful. (IIRC, Discover introduced the cash back bonus).


Not just Sears, lots of companies got into finance one way or another figuring it was easy money and ignoring the certain arrival of a Black Swan sooner or later. 2008 sure took a lot of them out.

A sale on credit is not a sale, it’s an act of charity until the check is deposited in the bank – and it does not bounce! Banks knew this which is why they conjured up The Fed on Jekyll Island and got Congress to rubber stamp it.

The Captain
beware debt!